WhiteHorse Finance, Inc. operates as a business development company focused on debt investments in privately held, lower middle market U.S. companies. News about WHF centers on quarterly earnings, declared distributions, portfolio originations, repayments and realizations, and management of credit performance across senior secured loans and related investments.
Company updates also cover activity involving STRS JV, share repurchase authorization and execution, liquidity and risk management commentary, and the timing of financial-results releases and conference calls. Recurring themes include portfolio composition, investment selectivity, underperforming credits, taxable-income distributions, and changes affecting book value and net asset value.
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WhiteHorse Finance, Inc. (Nasdaq: WHF) will announce its first quarter financial results for the period ended March 31, 2023, on May 9, 2023, at 4:00 p.m. ET. The company invites investors to participate in a conference call to discuss the results. Access is available by dialing 800-274-8461 or through the company website. A replay of the call will be available for one week starting two hours after the conclusion of the live event. WhiteHorse Finance invests in loans to privately held, lower middle market companies, managed by H.I.G. WhiteHorse Advisers, LLC, a subsidiary of H.I.G. Capital, which manages $55 billion in capital.
WhiteHorse Finance (NASDAQ: WHF) provided an update on March 20, 2023, regarding the impact of Silicon Valley Bank (SVB) and Signature Bank (SBNY) on its operations. The company confirmed no direct exposure to these banks, holding no cash or lending agreements with them. However, a small portion of its portfolio, less than 10 companies, has exposure, totaling $60.1 million (7.9% of the portfolio's fair value) as of December 31, 2022. WhiteHorse does not anticipate material adverse effects from these exposures and maintains sufficient liquidity to support its portfolio companies if needed.
WhiteHorse Finance reported financial results for the year ended December 31, 2022, with a net asset value of $332.4 million, or $14.30 per share, down from $15.10 in 2021. The company declared a distribution of $0.355 per share and a special distribution of $0.07 per share for Q1 2023, payable on April 4, 2023. Fourth quarter net investment income was $11.1 million, or $0.476 per share, a significant increase compared to the same period last year. However, the company faced net realized and unrealized losses of $12.3 million for Q4 2022. The total investment portfolio stood at $760.2 million, with 81.3% in first lien secured loans, and the company committed an additional $25 million to its joint venture with STRS Ohio.
WhiteHorse Finance, Inc. (NASDAQ: WHF) will announce its fourth quarter and full year financial results for the year ending December 31, 2022, on March 2, 2023. A conference call will be held at 1:00 p.m. ET to discuss these results. Investors can join the call by dialing 800-245-3047 and referencing ID #WHFQ422. A replay will be available after the call until March 9, 2023. WhiteHorse Finance specializes in investing in loans for lower middle-market companies and is managed by H.I.G. WhiteHorse Advisers, an affiliate of H.I.G. Capital, which oversees over $53 billion of capital across various funds.
WhiteHorse Finance (NASDAQ: WHF) announced an increase in capital commitments to the WHF STRS Ohio Senior Loan Fund LLC joint venture by $25 million, with $15 million from WhiteHorse and $10 million from the State Teachers Retirement System of Ohio. This raises total commitments to $175 million. The WHF STRS JV, established in 2019, focuses on lower middle market senior secured debt facilities. Since inception, its portfolio has grown to over $280 million, consisting of 28 companies with a weighted average yield of 10.1% as of September 30, 2022. CEO Stuart Aronson emphasized the partnership's success and potential for shareholder value enhancement amid current market conditions.